Key Points
- Navan President Michael Eric Sindicich sold 51,169 shares on May 28 at an average price of $20.20, generating about $1.03 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owns 549,251 shares.
- Navan’s stock was trading near its recent high, opening at $22.78 versus a 52-week range of $8.10 to $23.14. The company also has a market cap of $5.71 billion and a low debt-to-equity ratio of 0.10.
- Recent business results and analyst views were generally positive: Navan reported Q1 EPS of $0.02, beating expectations, with revenue up 34.8% year over year to $177.92 million. Analysts currently rate the stock a Moderate Buy with an average price target of $22.07.
Navan, Inc. (NASDAQ:NAVN - Get Free Report) President Michael Eric Sindicich sold 51,169 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $20.20, for a total transaction of $1,033,613.80. Following the transaction, the president owned 549,251 shares in the company, valued at $11,094,870.20. This represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Eric Sindicich also recently made the following trade(s):
- On Friday, March 20th, Michael Eric Sindicich sold 2,206 shares of Navan stock. The shares were sold at an average price of $8.62, for a total value of $19,015.72.
Navan Price Performance
Shares of Navan stock opened at $22.78 on Tuesday. The company has a 50-day moving average price of $15.68. Navan, Inc. has a one year low of $8.10 and a one year high of $23.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.07 and a quick ratio of 4.07. The company has a market cap of $5.71 billion and a price-to-earnings ratio of -10.90.
Navan (NASDAQ:NAVN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.26. The firm had revenue of $177.92 million during the quarter. The business's revenue for the quarter was up 34.8% on a year-over-year basis. On average, sell-side analysts expect that Navan, Inc. will post -0.33 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in NAVN. Royal Bank of Canada purchased a new stake in Navan in the 4th quarter worth about $35,000. California State Teachers Retirement System purchased a new stake in Navan during the fourth quarter valued at about $39,000. Russell Investments Group Ltd. bought a new position in Navan during the fourth quarter worth about $51,000. Sunbelt Securities Inc. purchased a new position in shares of Navan in the first quarter worth about $71,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Navan in the fourth quarter worth about $101,000.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Navan from $18.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Morgan Stanley raised their price objective on shares of Navan from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Oppenheimer lifted their price objective on shares of Navan from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. TD Cowen began coverage on shares of Navan in a report on Wednesday, April 15th. They issued a "buy" rating and a $18.00 target price on the stock. Finally, Citigroup dropped their price target on shares of Navan from $26.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Navan currently has a consensus rating of "Moderate Buy" and an average price target of $22.07.
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Navan Company Profile
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Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.
Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.
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